One of my family members received a few hundred thousand dollars inheritance. They are not good with money and know nothing about the market or index funds. I care about this person a lot. I don’t want them to squander it or be taken advantage of by a money manager. At the same time, I don’t want to feel responsible for their money if the market tanks. I just want to be able to help point them in the right direction. Do you guys think I should show them a three fund portfolio (boglehead) approach? Or maybe have them buy VOO and not touch it? They shouldn’t need to touch the money for 30 years. And they probably won’t make a lot of money at work in their lifetime. Any real advice is appreciated. Thank you.
Edit- I should also add they have a home paid off and no retirement savings yet. They shouldn’t need to pay for anything else. No debt either.
Submitted April 20, 2024 at 12:20AM by Extra_Ad2862 https://ift.tt/nCurhjS
